Finno-Russian Cooperation in Nanotechnology

The Russian Corporation of Nanotechnologies (Rusnano) and Finnish state investment company Suomen Teollisuussijoitus Oy have agreed to invest 25 million EUR each into nanotechnology companies that are active in both countries according to a Rusnano press release. Both Finnish companies planning to establish production in Russia as well as Russian enterprises working in Finland will be supported.

The document that has now been signed results from an earlier memorandum of understanding signed by Finland's Labor Ministry and Rusnano in December 2008. According to this memorandum both countries will exchange information about their nanotechnology policies concerning reseach, production and markets.

Depending on the results of their common efforts both parties plan to discuss the creation of a mutual venture capital fund within the next three years.